July 8, 2019 Headlines

There was a slight risk-off sentiment in the overnight session with both equities (S&P500 -.26%) and US Treasury yields set to open lower. The main headline over the weekend was Deutsche Bank’s restructuring plans as the bank plans to exit its equities business entirely and cut its workforce by up to one-fifth. This week, the focus will be on Federal Reserve Chairman Powell’s testimony to congress for any additional clues on monetary policy following the better than expected payroll numbers. The Monetary Policy Report that has already been delivered to Congress states the Fed will do what is necessary to ensure a sustained expansion and that lower long-term rates are already providing stimulus to the economy.

Chris Eckhoff
Associate, Investment Management Group

7/8/2019Consumer Credit$17.000b$17.497b
7/9/2019NFIB Small Business Optimism103.1105
7/9/2019JOLTS Job Openings74737449
7/10/2019MBA Mortgage Applications-0.10%
7/10/2019Wholesale Trade Sales MoM0.30%-0.40%
7/10/2019Wholesale Inventories MoM0.40%0.40%
7/10/2019FOMC Meeting Minutes
7/11/2019CPI MoM0.00%0.10%
7/11/2019CPI Ex Food and Energy MoM0.20%0.10%
7/11/2019CPI YoY1.60%1.80%
7/11/2019CPI Ex Food and Energy YoY2.00%2.00%
7/11/2019CPI Core Index SA262.564262.032
7/11/2019Initial Jobless Claims221k221k
7/11/2019CPI Index NSA256.093256.092
7/11/2019Continuing Claims1683k1686k
7/11/2019Real Avg Hourly Earning YoY1.30%
7/11/2019Real Avg Weekly Earnings YoY1.00%
7/11/2019Bloomberg Consumer Comfort62.6
7/11/2019Monthly Budget Statement-$12.5b-$207.8b
7/12/2019PPI Final Demand MoM0.00%0.10%
7/12/2019PPI Ex Food and Energy MoM0.20%0.20%
7/12/2019PPI Ex Food, Energy, Trade MoM0.20%0.40%
7/12/2019PPI Final Demand YoY1.60%1.80%
7/12/2019PPI Ex Food and Energy YoY2.10%2.30%
7/12/2019PPI Ex Food, Energy, Trade YoY2.30%
7/12/2019Bloomberg July United States Economic Survey

































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